Market announcement
Baltic Horizon Fund / Northern Horizon Capital AS
LEI code
5299008IKT93E4SA0G49
Size of the entity
Small undertaking
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
8540
Submission date and time
04.02.2021 22:00:00
Content of announcement in Estonian
Title
Baltic Horizon Fund teeb investoritele väljamakse summas ligikaudu 1,32 miljonit eurot
Message
Northern Horizon Capital AS kui Baltic Horizon fondi (Fond) fondivalitseja võttis vastu otsuse teha osakuomanikele rahaline väljamakse ligikaudu 0.93% ulatuses Fondi 2020.a. neljanda kvartali kaalutud keskmisest puhasväärtusest. Väljamakse suurus kokku on ligikaudu 1,32 miljonit eurot, mis ühe osaku kohta on 0,011 eurot. Väljamakse viimase 12 kuu jooksev tootlus on 5.8%, mis põhineb Tallinna börsil oleva osaku neljanda kvartali viimase päeva sulgemishinnal. 2020. aasta IV kvartalis genereeris Fond tehingutest auditeerimata genereeritud netorahavoogu 2,65 miljonit eurot. Turul valitseva ebakindluse tõttu vähendatud väljamaksega 1,32 miljonit eurot, otsustas Fond säilitada 1,33 miljonit eurot jaotatavat rahavoogu. Viimase nelja kvartali jooksul on Fond suurendanud väljamaksete reservi 4,35 miljoni euroni. Fondi juhatus otsustas jaotada ainult 50% genereeritud netorahavoogudest, et väljamakse suhe oleks kooskõlas varasema, COVID-19 pandeemia esimese laine jooksul tehtud väljamaksega. Fondivalitseja usub, et väljamakse summa vähendamine on kõigi osakuomanike ja seotud osapoolte huvides. Vähenenud väljamakse jaotamine parandab Fondi likviidsust, mis peaks pakkuma täiendavat turvalisust ja suutlikkust majanduse stabiliseerumisel turul erinevaid võimalusi kasutada. Fond on viimase 12 kuu renditulust kokku teinud väljamakseid 7,83 miljoni euro eest (1,70 miljonit eurot I kvartalist, 1,70 miljonit eurot II kvartalist, 3,11 miljonit eurot III kvartalist ja 1,32 miljonit eurot 2020.a. neljandast kvartalist). Väljamaksed Fondi arvelt tehakse 23. veebruaril 2021.a. Väljamakseid on õigus saada osakuomanikel, kes on registrisse kantud kui osakuomanikud 19. veebruar 2021.a. T2S arveldussüsteemi tööpäeva lõpu seisuga (Fikseerimispäev). Lisainformatsiooni saamiseks palume kontakteeruda: Tarmo Karotam Baltic Horizon Fond, fondijuht E-mail [email protected] www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=b3m46blAgVW1c08stUiNJ6CEYuP0f4V4PfDu NZbSU1_VmtWCOFJIkx0_tYXdUGjpErQuPjdm4rBdC5mah0zM_wQU6OWhvnZOiWzS8cve8OWVnv- MTBmLUZDbHTI_I4vau1o5ofaZkXgSJzHWK3Jtss377E3Tn_uMLH4R-P4dvAAZq2ADpfaCEoFHM4zuO- iTRaIQ3AhaHdrgEoLjfz0jcNg2W7xusrIxfdoWjUBehcPlC8X2- 9Ob70PmHAy4rsfHWloIbBR3qYSup_nAfCfqig==) Baltic Horizon Fond on registreeritud lepinguline avalik kinnine kinnisvarafond, mida valitseb alternatiivfondivalitseja Northern Horizon Capital AS. Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=b3m46blAgVW1c08stUiNJ6CEYuP0f4V4PfDu NZbSU19TpeQ2pn6- 7wvrn7oUSeA8K9EdxhZu1qHQTTrFcIO6CoDqUWpdYNpYZGfAW3Ej7mqoMTdjZX8lJ6TsqDDfpCmvZfl- q8UzYJgP0O3nYOqPPnJ2Mr9HQAZCSjzFnJtwERG3YFlx3RCv9rKccS5D8lNpkfYeGtgDu_9YNd2MnoF2 K1aNCTl3GPo5bDTWVdhmdddsUiHGxsJStEZg69Xaint06vFIGPdF6Xdq_RsRYsbZVw==) Käesolev teade sisaldab informatsiooni, mille Fondivalitseja on kohustatud avaldama Euroopa Liidu turukurvitarvituse määruse kohaselt. Informatsioon esitati avaldamiseks 04.02.2021 kell 21:40 Eesti aja järgi ülalmainitud avaldamiskanalite esindajatele.
Content of announcement in English
Title
Baltic Horizon Fund declares quarterly cash distribution of approx. EUR 1.32 million to investors
Message
Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) has approved a cash distribution of approx. 0.93% of the Fund's Q4 2020 weighted average net asset value to its unitholders. This equals to approx. EUR 1.32 million in total and EUR 0.011 per unit. The pay-out also represents a 5.8% rolling distribution yield for the past 12 months based on the closing unit price of the last day of Q4 2020 on the Nasdaq Tallinn stock exchange. In Q4 2020, the Fund generated an unaudited Generated Net Cash Flow from operations of approx. EUR 2.65 million. With a reduced payout of EUR 1.32 million in light of prevailing market uncertainty, the Fund has opted to retain EUR 1.33 million of distributable cash flow. Over the past four quarters, the Fund has increased its dividend reserve to EUR 4.35 million. The Fund's Management Board decided to distribute only 50% of Generated Net Cash Flow to keep pay-out ratio in line with distribution levels during the first wave of the COVID-19 pandemic. The management company believes that it is in the best interest of all unitholders and other stakeholders to reduce cash distribution during the second wave of the COVID-19 pandemic. The reduced cash distribution will improve the Fund's liquidity which should offer additional safety and capability to seize opportunities in the market when the economy stabilizes. In total, the Fund has paid out EUR 7.83 million from the operating results of the last twelve months (EUR 1.70 million from Q1 2020, EUR 1.70 million from Q2 2020, EUR 3.11 million from Q3 2020 and EUR 1.32 million from Q4 2020). Payments will be distributed from the Fund on 23 February 2021. Unitholders entitled to receive distributions will be determined according to a unitholders list as of 19 February 2021 end of the business day in T2S settlement system (Record date). For additional information please contact: Tarmo Karotam Baltic Horizon Fund manager E-mail [email protected] (https://www.globenewswire.com/Tracker?data=AlWmqb- vS8wwTu7sVX9kB9wyRefK_1bM1fBVupeSItdrWnwG8aESPNPlQsMM70fYBFWunfiyDaUZFDMQWp5n20- EwkSXgSV-JCdxqO7eo5Q=) www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=1jegeeeOqfAgyyV8B56w6trwSwgVQnQDdvJN 0zZBKv0TUNzwEVUM5aDSFdipkiXlN4cI8xj_bQGi2UGnLuWal2PSMy4hEjo8ciW9xO__hQE=) The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=1jegeeeOqfAgyyV8B56w6trwSwgVQnQDdvJN 0zZBKv0TUNzwEVUM5aDSFdipkiXlN4cI8xj_bQGi2UGnLuWal2PSMy4hEjo8ciW9xO__hQE=) This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 21:40 EET on the 4th of February 2021.